Quarterly ResultMay 5, 2026, 07:08 AM
AEP Raises 5-Year Capital Plan to $78B; Q1 EPS $1.61
AI Summary
American Electric Power reported strong first-quarter 2026 results, with GAAP EPS of $1.61 and operating EPS of $1.64. The company reaffirmed its full-year 2026 operating earnings guidance and significantly increased its five-year capital plan to $78 billion, up from $72 billion, driven by robust demand growth. This expanded capital plan is expected to generate nearly 11% annual rate-base growth and raise the operating earnings CAGR to greater than 9% through 2030.
Key Highlights
- Increased five-year capital plan to $78 billion from $72 billion.
- Q1 2026 GAAP EPS was $1.61, up from $1.50 in Q1 2025.
- Q1 2026 operating EPS was $1.64, up from $1.54 in Q1 2025.
- Reaffirmed full-year 2026 operating EPS guidance of $6.15 to $6.45.
- Expected operating earnings CAGR raised to greater than 9% through 2030.
- New load additions expected to reach 63 GW by 2030.
- Q1 2026 revenue increased to $6.02 billion from $5.46 billion in Q1 2025.
- Transmission investment expected to be $33 billion, 42% of the capital plan.